JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q3 2014 Earnings Presentation
10 slides from JinkoSolar's earnings presentation, Nov 20, 2014
Slide 1: JinkoSolar Q3 2014 Earnings Call Presentation
JinkoSolar Holding Co., Ltd. Q3 2014 Earnings Call Presentation Nov 20, 2014
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of JinkoSolar Holding Co., Ltd. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis
Slide 3: Financial Highlights and Outlook
Financial Highlights and Outlook Q2 2014A Q3 2014 Q4 2014E FY 2014E 2,000– wafer 2,300 – wafer 2,500 – wafer 2,500 – wafer Capacity (MW) 2,000– cell 1,800 – cell 2,000 – cell 2,000 – cell 2,100 – module 2,800 – module 3,200 – module 3,200 – module 1,030MW – 758.1MW 1,120MW 570.8MW 2.9GW – 3.2GW Excl
Slide 4: Capacity and Shipment
Capacity and Shipment Capacity (MW) Product Shipments (MW) 760 3,000 2,800 720 2,800 680 2,600 640 658.1 2,100 2,300 600 570.8 2,400 560 455.1 2,200 2,000 520 2,000 1,800 480 1,800 440 533.3 400 460.0 1,600 360 489.3 1,400 1,200 320 1,200 280 280.0 282.4 1,000 240 252.3 200 34.0 800 600 160 34.6 600
Slide 5: Significant Cost per Watt Reduction
Significant Cost per Watt Reduction In-house Cost Q4 2013 Q1 2014 Q2 2014 Q3 2014 Mono & Multi Non-Silicon Cost ($/Watt) $0.39 $0.37 $0.365 $0.36 (Including Depreciation) Mono & Multi Silicon Cost $0.09 $0.10 $0.105 $0.10 ($/Watt) Total Cost ($/Watt) $0.48 $0.47 $0.47 $0.46 (Including Depreciation)
Slide 6: Downstream Project List
Downstream Project List Project List Capacity Commercial Region Name (MW) operation date Qinghai Delingha Ruiqida 27 (1) Jan 2013 352 MW Gansu Gansu Longchang PV 20 Feb 2013 completed Gansu Gansu Jintai Electric 28 (2) July 2013 Qinghai Hainan South Zhongzhou PV 10 Sept 2013 Xinjiang Shaya Jingxin 2
Slide 7: Quarterly Financial Highlights
Quarterly Financial Highlights Total Revenues and Total Shipments Gross Profit and Gross Margin Operating Profit and Operating Margin Net Income, Net Margin and Diluted EPS 6
Slide 8: P&L Summary
P&L Summary US$ in millions Q3 2013* Q4 2013* Q1 2014* Q2 2014* Q3 2014* Revenues 320.7 361.4 323.9 392.1 417.3 Gross Profit 71.5 89.3 77.7 88.7 86.1 Gross Margin 22.3% 24.7% 24.0% 22.6% 20.6% Operating Expenses 31.6 46.0 45.0 48.1 47.0 Operating Margin 12.4% 12.7% 10.1% 10.3% 9.4% Interest Expense
Slide 9: Balance Sheet
Balance Sheet US$ in millions Q3 2013* Q4 2013* Q1 2014* Q2 2014* Q3 2014* Cash and Restricted Cash 218.7 141.2 271.0 252.7 340.7 Accounts Receivable (third parties) 230.3 272.4 303.3 438.9 443.2 Inventories 102.9 117.6 166.7 161.3 243.4 Advances to Suppliers (third parties) 15.2 11.6 15.2 25.5 19.1
Slide 10: Thank you!
Thank you! www.jinkosolar.com 9